Provisional assessments in cases of banking companies.

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..... ments were not taken up for a long time despite the fact that there was neither any investigation nor any other complication involved in the completion of the assessments. It has also been seen that, in many such cases, when regular assessment is completed, portion of the refund issued earlier had to be recalled in the form of demand. There is no provision u/s 141A of the Act for charging of inter .....

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..... l of the Commissioner of Income-tax, who will ensure that such assessments are taken up expeditiously and sincere efforts are made to complete such assessments on priority basis. However, while completing the provisional assessments for granting refunds, it should be ensured that such assessments are not resorted to indiscriminately. 3. The above instructions may please be brought to the notice .....

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